Pre-trading expenses on Companies Accounts

Can/Should I record Pre-trading expenses on Companies Accounts?

Didn't find your answer?

I know I can claim back tax on certain pre-trading expenses.

But I am confused now, can/should I record Pre-trading expenses on Companies Accounts?

If I do my balance sheet will show me a loss for previous years... Will this be correct?

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paddle steamer
By DJKL
19th Dec 2019 20:59

Recognise in the accounts in the first year, day one transaction,

Dr Expense/Capital
Cr Loan account (likely directors)

https://www.gov.uk/hmrc-internal-manuals/business-income-manual/bim46351

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